- **Brookfield Asset Management Ltd. acquired a majority of Angel Oak Companies, LP**, the parent of Angel Oak Capital Advisors, LLC (FINS's investment adviser), on **October 1, 2025**.  **[1745059_0000894189-25-010675_fins-changeincontrolpressr.htm:0]** **[1745059_0000894189-25-010675_ck0001745059-20251002.htm:2]** 
- Following the acquisition, a **new investment advisory agreement** with **substantially similar terms and the same advisory fee** was approved by the Board on **April 23, 2025**, and by shareholders on **September 26, 2025**. The transaction is **not expected to materially change the Fund's day-to-day management**.  **[1745059_0000894189-25-010675_fins-changeincontrolpressr.htm:0]** **[1745059_0000894189-25-010675_ck0001745059-20251002.htm:2]** 
- **Clayton Triick resigned** as a Trustee, effective **September 30, 2025**, reducing the Board to **five Trustees**.  **[1745059_0000894189-25-010675_ck0001745059-20251002.htm:1]** 
- **Ward Bortz replaced Adam Langley** as President of the Fund, effective **October 1, 2025**.  **[1745059_0000894189-25-010675_ck0001745059-20251002.htm:1]**

Angel Oak Financial Strategies Income Term Trust Reports Brookfield Acquisition and Leadership Changes

- Shareholders of **Angel Oak Financial Strategies Income Term Trust (FINS)** approved a **new investment advisory agreement** with Angel Oak Capital Advisors, LLC at a special meeting held on **September 26, 2025**.  **[1745059_270d03f0b978483aac24ac51426e672e_0]** 
- The Board of Trustees expressed enthusiasm for the **value creation opportunity** presented by the combination of Angel Oak and **Brookfield Asset Management**.  **[1745059_270d03f0b978483aac24ac51426e672e_0]** 
- The Fund's investment strategy focuses predominantly on **U.S. financial sector debt**, with at least **50%** of its portfolio typically invested in investment-grade debt.  **[1745059_270d03f0b978483aac24ac51426e672e_0]**

Angel Oak Financial Strategies Income Term Trust Shareholders Approve New Investment Advisory Agreement

- Angel Oak Financial Strategies Income Term Trust (FINS) has filed an investor presentation for a Special Meeting on **September 26, 2025**, to approve a **new investment advisory agreement**.  **[1745059_1f436f8f9b8647fd9558ab84a1005abc_0]** 
- This new agreement is a result of **Brookfield Asset Management Ltd. acquiring a majority interest** in Angel Oak Companies, the parent of the Fund's adviser, with the transaction expected to close by **September 30, 2025**.  **[1745059_1f436f8f9b8647fd9558ab84a1005abc_2]** **[1745059_1f436f8f9b8647fd9558ab84a1005abc_0]** 
- The new agreement is **substantially identical** to the current one, ensuring **continuity of the Fund's operations, investment strategy, and management team** with **no increase in fees**.  **[1745059_1f436f8f9b8647fd9558ab84a1005abc_0]** 
- The Board unanimously recommends voting "**FOR**" the new agreement, as it is expected to enhance the Adviser's resources, market access, and provide potential synergies through Brookfield's scale.  **[1745059_1f436f8f9b8647fd9558ab84a1005abc_0]** **[1745059_1f436f8f9b8647fd9558ab84a1005abc_1]** 
- As of **August 31, 2025**, the Fund has **outperformed its benchmark** (Bloomberg U.S. Aggregate Bond Index) over 1-, 3-, and 5-year periods, year to date, and since inception.  **[1745059_1f436f8f9b8647fd9558ab84a1005abc_1]**

Angel Oak Financial Strategies Income Term Trust Seeks Shareholder Approval for New Investment Advisory Agreement

- Trevor Montano is urging Angel Oak Financial Strategies Income Term Trust (FINS) shareholders to vote **AGAINST** a new investment advisory agreement with Angel Oak Capital Advisors, LLC, citing the fund's poor performance.  **[1745059_20250826PH58842:0]** 
- FINS's share price has declined over **35%** since its 2019 inception, and it has underperformed peer closed-end funds in total shareholder returns over 3- and 5-year periods.  **[1745059_20250826PH58842:0]** 
- Angel Oak has received more in investment advisory fees than FINS generated in cumulative net income, specifically **$20.0 million** in fees versus **$9.0 million** in net income for FY 2023-2025.  **[1745059_20250826PH58842:1]** 
- Concerns are raised regarding the FINS Board's fiduciary responsibility, lack of a competitive advisor selection process, and the continued presence of unelected Trustees.  **[1745059_20250826PH58842:0]**

Angel Oak Financial Strategies Income Term Trust Faces Shareholder Opposition to Advisory Agreement

- Angel Oak Financial Strategies Income Term Trust (FINS) has filed its definitive proxy statement for a special shareholder meeting on **September 26, 2025**, to approve a new investment advisory agreement.  **[1745059_49f4756bcd8f49ec8217400b8d54532b_0]** 
- This new agreement is required due to Brookfield Asset Management Ltd.'s proposed **majority investment in Angel Oak Capital Advisors, LLC**, which is expected to close on or before **September 30, 2025**.  **[1745059_49f4756bcd8f49ec8217400b8d54532b_0]** **[1745059_49f4756bcd8f49ec8217400b8d54532b_2]** 
- The proposed New Agreement is **substantially identical to the existing one**, with **no material changes to day-to-day management, operations, or fees**, and the **same portfolio managers** will remain.  **[1745059_49f4756bcd8f49ec8217400b8d54532b_0]** 
- The Fund's Board of Trustees **unanimously recommends voting "FOR"** the New Agreement, citing benefits such as continuity, continued value creation (including a distribution yield over **10%** and an increased monthly distribution to **$0.115 per share** for August 2025), and leveraging Brookfield's expertise.  **[1745059_49f4756bcd8f49ec8217400b8d54532b_0]** **[1745059_49f4756bcd8f49ec8217400b8d54532b_1]**